Finance Principles For Non-Finance Oil & Gas Successful Professionals

This course is aimed at professionals from all areas of business who require a better understanding of how finance works. The course offers insights into the main factors that are essential to the successful financial management of oil and gas corporations.

About this Course

This course is aimed at professionals from all areas of business who require a better understanding of how finance works. The course offers insights into the main factors that are essential to the successful financial management of oil and gas corporations. In an uncertain economic environment managers need to be aware of the power and importance of key stakeholders – shareholders, bankers, customers and suppliers. Managers need to efficiently allocate resources, whilst recognizing environmental and ethical concerns, controlling risks, and effectively communicating strategy and performance. This course provides professionals from non-finance backgrounds with a fundamental grasp of the important principles of finance. This gives them the confidence to work alongside financial experts, make informed choices and fully participate in the management process. Financial skills and knowledge are vital for all managers in all organizations. A more challenging business and economic climate and an increase in financial delegation is making this even more so. Many senior professionals miss formal training in finance and often feel uncomfortable when discussing financial matters with their peers and financial professionals. This interactive and engaging course addresses these important issues for established managers and give learning for young professionals early in their careers.

the Training course will highlight:

The course introduces crucial theory but primarily focuses on real life problems and applications to build practical understanding and use of this essential subject key areas covered in this course include:
Reading, interpreting and using financial statements (internal and external)
Improving business cases and decision making
Costing and presenting plans and proposals
Working more effectively with budgets
Delivering improved financial performance, profit & cash flow
The relevance & importance of accounting & finance to the success of your business
The unique features of oil & gas accounting that impact on reporting & decision making
Budgeting and costing techniques & how to apply them
The techniques available to determine the most profitable & worthwhile investments for your business
Effective ways to control the financial risks of your business

Course Outline

An Introduction to Financial Accounts

Accounting terminology
Income statement, balance sheet, cash flow
Accrual basis accounting
Published report and accounts
Oil & gas accounting issues
The cash conversion cycle
Working capital management

The Key Elements of Oil and Gas Reporting

The major differences between US GAAP and IFRS reporting
The treatment of exploration and evaluation costs – successful efforts or full cost
Recognition and valuation of oil and gas assets – tangible and intangible
Revenue recognition – upstream, midstream and downstream
Financial analysis techniques – common sizing and ratio analysis
Analysis and interpretation of oil and gas company reports

Financial Analysis and Costing